Moratorium on Development Sample Clauses

Moratorium on Development. Nothing in this Agreement shall prevent City, whether by City Council or through the initiative or referendum process, from adopting or imposing a moratorium on the processing and issuance of Subsequent Approvals and building permits and on the finalizing of building permits by means of a final inspection or certificate of occupancy, provided that the moratorium is adopted or imposed (i) on a City-wide basis to all substantially similar types of development projects and/or properties with similar land use designations and (ii) as a result of a utility shortage or a reasonably foreseeable utility shortage, including without limitation a shortage of water, sewer treatment capacity, electricity or natural gas. The term of this Agreement and the Prior Approvals shall be extended by the duration of any such moratorium (e.g., the term shall be extended by twelve months, in the event of a twelve month moratorium).